Transcript:
Hey guys, it’s Casey Denman here from Tax Sale Academy.com
Thanks so much for joining me on today’s livestream here on Facebook. As always, at the conclusion of this livestream, if you’re looking to learn more about investing in tax defaulted real estate head to taxsaleacademy.com, that’s taxsaleacademy.com.
Today, we’re going to talk about a strategy that will nearly guarantee you don’t make any bad investments. It’s a strategy that, if you take it to heart, will maximum your profits and nearly eliminate those risks.
Here’s the strategy: Become a Tax Sale Research Genius. It’s as simple as that. The truth is that I could end this livestream right this very second and if you did everything in your power to become a tax sale research genius, you would absolutely, without a doubt, become successful in this business.
But I’m going to go ahead and give you a few pointers on making this happen.
First of all, notice I said “Tax Sale Research Genius” – not tax sale genius and not research genius, but a tax sale research genius. This implies that you need to become a genius on tax sales and research. Now, I understand genius might be an intimidating word, and I don’t want you to be intimidated. But just understand that right this very second there is a gap between where you are and where someone labeled a tax sale research genius is. And it doesn’t matter how much experience you have, there will always be some sort of gap. The smaller this gap is, or the closer you get, the better your investments will become as well as the risk continuing to lower.
So, there are three things that tie everything together. And I’m not shooting this video to take these lightly. These are incredibly complex topics, but the more you know about each one, the better success you’ll see. Just become an expert on these three and you’re nearly guaranteed to see success. Easier said than done, but commit to working in the right direction and you’ll be glad you did.
The first is to become an expert in the specific tax sale process in your area. The tax sale process and laws can be incredibly complex in and of themselves. Take the time to read through your state’s laws. These can be incredible boring and even rather lengthy in some areas. These books behind me are Tax Sale Law Guide, I assembled them for this very purpose. You can also head to google and locate the most recent tax sale laws that apply to your state. Review them, analyze them and learn them. Our entire business as a tax sale investor is based around these laws. They are extremely important.
Beyond that, understand the tax sale process in the area you invest in. Different customs and practices occur in nearly every area. Become so familiar with the auction process and everything else involved around the sale of tax defaulted real estate in your area that you know absolutely everything about anything that’s going to happen in that area and when it’s going to happen. Nothing involved in the tax sale process should shock you. That’s step one.
Step two is to know everything you can about researching tax sale properties. Everything. Research equals results. That’s what it boils down to. You need to take the time to study and practice how to use every research tool available. We’re talking about property assessor reports, GIS maps, flood maps, building department resources, county records, how to do drivebys . . . you must know how to research tax sale properties inside and out. Learning every single detail about every single property you research should become easy to you.
There are a number of beginners who want to do just the basics, like you know, just review a two page property assessor’s report and invest based off of that alone. Unfortunately, that won’t work. You need to be able to research absolutely everything about that property and then make your educated decision from there.
The last step is to know everything you can about the real estate market you’re investing in. We’re talking about a few things – the major stuff, of course, like the trends, comps, areas of growth, new developments all of that type of stuff. We’re also talking about the specifics too. If you can tell me how long every property in the area that you invest in has been on the market, if it’s overpriced, underpriced and what’s wrong or right with it, you’ll have a huge leg up on everyone else.
You also need to know about the laws that impact you. You must know every single law that has the slightest impact on real estate in that area. There will be federal, state and local laws that will all have an impact on you and it’s your responsibility to know and understand these. In short, know everything you can about the real estate market.
Guys, if you want guaranteed success in this business, that’s the only way. Just become a genius at the tax sale process, at tax sale research and at your real estate market. It’s definitely a task that is probably impossible for most people. But again, if you’re able to close that gap between what you know now and becoming a genius at those three disciplines, I promise that every single step you take in the right direction will be step towards guaranteed tax sale success without risk.
And this can take time to get to where you want to go. You’ll never be absolutely perfect at all three disciplines. I’m not more than 16 years later, but I’m getting closer every day and that’s all that matters. It will definitely take experience to get there, so stick with it and you’ll see success sooner rather then later.
That’s it for today’s livestream. I really hope you’ve enjoyed it. If you enjoy these livestreams, be sure to let us know by subscribing to our channel and clicking that thumbs up button below this video. We also welcome your feedback and suggestions on future videos so we’re able to serve you the absolute best we can.
And of course these livestreams and the videos we offer are only just the beginning when it comes to the training we offer. If you’d like to take advantage of our more advanced training, be sure to head to TaxSaleAcademy.com. That’s taxsaleacademy.com.
That’s it for today guys. Make it a successful day.
Take care. Bye bye!